), a leading supplier of communications equipment and services,
won an 18-month follow-on contract from
The Boeing Company
) to supply ka-band antennas to the fourth Inmarsat Global Xpress
satellite. The deal was announced at the SATELLITE 2014
Conference and Exhibition held in Washington, D.C.
As per the deal, Harris will supply Boeing with antennas which
will help in transferring signals from an Inmarsat satellite in
orbit through wireless connectivity from deep sea vessels to
airline passengers. The global express network is expected to
deliver worldwide coverage by the end of this year. Notably,
Harris has provided antennas to the previous three Inmarsat
Global Xpress Satellites.
Another encouraging announcement at the conference informed
that Harris' Automatic Dependent Surveillance-Broadcast (ADS-B)
1090 Extended Squitter receiver payload has qualified for
operations in space.
Harris has already won $234 million worth of tactical radio
contracts globally in the past few months. Notably, more than
45,000 radios have been sent to the U.S. Department of Defense
and allied forces in more than 15 countries.
In the first quarter of fiscal 2014, Harris reported mixed
financial results with the bottom line beating the Zacks
Consensus Estimate but the top line missing the same. In the
reported quarter, the RF Communications segment generated orders
worth $348 million of which 65% was generated from the Tactical
Radio Communications unit. Moreover, the total order backlog in
the Tactical Radio Communications division amounted to $664
Harris currently carries a Zacks Rank #2 (Buy).
Other Stocks to consider
Other better-ranked stocks in the wireless equipment industry
Juniper Networks, Inc.
). Both the stocks carry a Zacks Rank #1 (Strong Buy).
BOEING CO (BA): Free Stock Analysis Report
HARRIS CORP (HRS): Free Stock Analysis Report
JUNIPER NETWRKS (JNPR): Free Stock Analysis
SHORETEL INC (SHOR): Free Stock Analysis
To read this article on Zacks.com click here.